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Crypto market fundraising in Q1 2024 surged to $2.4 billion following a turn in market sentiments amid new inflows. A new <a rel="noopener noreferrer nofollow" href="https://pitchbook.com/news/reports/q1-2024-crypto-report" target="_blank">PitchBook</a> report shows a massive jump in investment numbers quarter-on-quarter in the cryptocurrency market.
According to the report, the sector saw an inflow of $2.3 billion from 518 deals in the first three months of the year. This figure points to a 40.3% rise in investments compared to the previous quarter. This is a huge leap considering increased on-chain activity recorded in Q4 2023.
Deal volume or number of transactions increased by 44.7% last quarter. Market valuations were up this year with the rise in asset prices. PitchBook analysts expect to see a steady rise in investment numbers throughout the year.
<blockquote>
 “for the pre-seed/seed stage was $21.8 million; the early stage, $72.0 million; and the late stage, $51.1 million, representing YoY increases of 85.5%, 148.3%, and 7.6%, respectively.”
</blockquote>
<h2 id="strong-eigenlayer-leads-the-pack-strong">EigenLayer Leads The Pack</h2>
Per the report, infrastructure startup saw the highest inflow led by <a href="https://coingape.com/eigenlayer-secures-100m-investment-via-andreessen-horowitz-venture-firm/" target="_blank" rel="noopener noreferrer nofollow">EigenLayer</a> with a $100 million Series B funding while Zama, a crypto company that develops fully Homomorphic Encryption (FHE) saw $73 million inflows.
However, the largest deal of the quarter was Together AI netting $106 million increasing its valuation to $1.1 billion. Deals came with higher valuations for several firms as institutions got invested in the crypto market.
“with median figures registering at $2.7 million for the pre-seed/seed stage, $5.0 million for the early stage, and $5.8 million for the late stage, representing an increase of 24.9%, an increase of 25.0%, and a decrease of 9.7%, respectively, from full-year 2023,” the report added.&nbsp;
<h2 id="span-style-font-weight-400-strong-crypto-markets-sees-upticks-on-institutional-flows-strong-span">Crypto Markets Sees Upticks on Institutional Flows&nbsp;</h2>
The major factor spurring the rise in investment was the bull market in Q1 that saw crypto prices tap highs not recorded in months. The approval of spot <a href="https://coingape.com/bitcoin-etfs-dominate-us-market-in-q1-2024/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> by the United States Securities and Exchange Commission (SEC) triggered a new wave of flows from institutional investors in the crypto market.&nbsp;
The price of Bitcoin soared above $72,000 attracting investors to the market through the approved window. This bull run also increased VC fund activity.&nbsp;
Also Read: <a href="https://coingape.com/xrpl-startup-xpmarket-initiates-token-swap-after-distribution-error/" target="_blank" rel="noopener noreferrer nofollow">XRPL Startup XPMarket Initiates Token Swap After Distribution Error</a>
The post <a href="https://coingape.com/crypto-market-q1-2024-funding-surges-to-2-4-billion-report/" rel="noopener noreferrer nofollow">Crypto Market Q1 2024 Funding Surges to $2.4 Billion: Report</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Market Q1 2024 Funding Surges to $2.4 Billion: Report

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